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Prepare the foumalentry to record income tax expense, deferred income taxes, and income taxes payable...

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Accounting

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Prepare the foumalentry to record income tax expense, deferred income taxes, and income taxes payable for 2020 . (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "Notintry" for the occount titles and enter 0 for the antounts.) Fint Company reports pretax financial income of $66,100 for 2020 . The following items cause taxable income to be different than pretax financial income. 1. Depreciation on the tax return is greater than depreciation on the income statement by $14,800. 2. Rent collected on the tax retum is greater than rent recognized on the income statement by $23,900. 3. Fines for pollution appear as an expense of $10,600 on the income statement. Flint's taxrate is 300 sfor all yeats, and the company expects to report taxable income in all future years. There are no deferred taxes at the beginning of 2020 . (a) Compute taxabie income and income taxes payable for 2020

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